The Calgary real estate market is cooling, with rising inventory and moderating sales. In August 2024, residential sales dropped 20% year-over-year to 2,186, yet remain 17% above long-term averages. Active listings increased by 37% to 4,487, the highest since 2022. The benchmark price for residential properties rose 6% to $601,800. The rental market saw average rents decline, with one-bedroom units at $1,708 and two-bedroom units at $2,094. Calgary's unemployment rate held steady at 5.6%, and consumer confidence improved slightly.
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